Lenskart is witnessing another major shareholder sale as Platinum Jasmine A 2018 Trust, an investment vehicle backed by the Abu Dhabi Investment Authority (ADIA), is reportedly planning to offload around 4 crore shares. The proposed transaction, equivalent to a 2.3% stake, is expected to be executed through a block deal worth about ₹1,944 crore, reports Moneycontrol. This comes just days after SoftBank sold a part of its holding in the eyewear retailer, making it the second large stake sale in the company within a short span.
The shares are being offered at a floor price of ₹486 apiece, around 2.8% below the previous closing price. And since this is a secondary transaction, Lenskart itself will not receive any funds, with the proceeds going entirely to the selling shareholder.
The development follows SoftBank’s recent block deal, in which the Japanese investment giant, through its affiliate SVF II Lightbulb, sold 5.65 crore shares, representing about 3.25% of Lenskart, for around ₹2,873 crore. Following the transaction, SoftBank’s stake in the company fell from 13.13% to 9.88%. Together, the SoftBank and ADIA deals account for more than ₹4,800 crore worth of shares and over 5.5% of Lenskart’s equity changing hands in less than two weeks. The buyers in SoftBank’s transaction included several leading domestic and global institutions like Fidelity, Goldman Sachs-linked funds, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund and HDFC Life.
Despite the large stake sale, the transaction is largely being viewed as a profit-booking exercise rather than a sign of weakening confidence in the business. ADIA-backed Platinum Jasmine A 2018 Trust held around 12.08% of Lenskart before the proposed transaction and would continue to own about 9.8% of the company even after selling the 2.3% stake. Notably, both ADIA and SoftBank invested in Lenskart during its private-market years, long before the company went public. As the company’s valuation expanded significantly over the years, these investors earned substantial gains.
Meanwhile, the stake sales also come at a time when Lenskart continues to report strong business growth. For the quarter ended March 2026, the company posted revenue of around ₹2,516 crore, marking a 46% year-on-year increase from ₹1,728 crore. Net profit stood at about ₹204 crore, compared with ₹220 crore in the year-ago period. While profitability was under pressure due to higher inventory, component, and operating costs, investors remain focused on the company’s ability to scale revenue and expand its market presence.
Lenskart’s growth story is increasingly becoming global as well. Following its acquisition of the eyewear chain Owndays and its continued international expansion, the company now operates in more than 10 countries, with a network of over 600 stores worldwide. International operations also contribute a significant share of revenue, making Lenskart one of the few Indian consumer-tech companies with meaningful overseas scale.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
